If you are thinking of temporarily employing a student over the summer holidays it’s important to note that under Real-Time Information (RTI) the procedure for employing students has changed, and the P38(S) form is no longer valid. If you employ students you must treat them, for payroll purposes, in exactly the same way as any … Continued
If you have built up a successful business you are likely to be an extremely hardworking and dynamic individual and whilst figures show 75% wish to pass the business to the children only 25% take the necessary steps to do so. By planning for the future you are taking sensible steps to protect your business, … Continued
H M Revenue & Customs is undertaking a review of two aspects of the tax rules affecting partnerships and limited liability partnerships (LLPs). The changes are intended to attack two arrangements which HMRC believe are implemented to reduce tax and are designed to: remove the presumption of self-employment for some members of Limited … Continued
A recent High Court ruling (Mehjoo V Harben Barker) apparently imposes on practitioners a contractual duty to help clients avoid tax by any legal means. In the case damages of £1.4 million were awarded after the defendants were found to be professionally negligent by failing to highlight a tax saving method for a chargeable disposal … Continued
On 9 May 2013 a Supreme Court announced their ruling in connection with the rectification of trustees mistakes. Historically trustees have relied on the ‘Hastings-Bass’ principle, this allowed the Court to set aside a decision made by the trustees who had not properly considered all the relevant matters which should have been taken into … Continued
In the March 2013 Budget the government announced that the current nil rate band of £325,000 for Inheritance Tax will be frozen until 2018. The threshold has been frozen since 2010. Normally the threshold would increase each year in line with inflation, so freezing it, and for so long, means more families will … Continued
Changes to business regulations happen at two common commencement dates – in April and October – each year. As well as the headline changes to redundancy consultation periods and employment tribunal procedures introduced this April, changes to national insurance contributions (NICs) for ‘sleeping and inactive’ limited partners have also been announced by HM Revenue & … Continued
Chancellor George Osborne introduced Budget 2013 as one for an ‘aspiration nation’; for those who aspire to ‘own their own home, get their first job, or start their own business.’ Economic update As always, the Budget was delivered alongside the latest economic forecasts from the Office for Budget Responsibility, and the outlook looks decidedly tough. … Continued
From April 2013 HMRC will be allowed to cancel a tax return that’s been issued and any late filing penalties that go with it. But where do you stand if you’ve just missed the January 31 deadline? Tax return issues Whether or not you need to complete a tax return ought to be a straightforward … Continued
Payments you receive from your company are usually liable to income tax unless they are to reimburse you for business expenses you’ve paid personally. However, there’s an exception. What is this and how does it work? Business expenses You probably know that the basis rule for work-related expenses is that they are tax deductible where … Continued
🎅🏻BWM Christmas opening hours🎅🏻
🎄The BWM office will be closed over the Christmas period from close of business on Friday 22 December 2023 at 12pm until 9am on Tuesday 2 January 2024. 🎄
The Easter Bunny has come early!🐣Chocolate inspired pay day treat for all our lovely staff 🍫 🐇
2
Tempest Suite 5.1, 12 Tithebarn Street,
Liverpool, L2 2DT
Phone: 0151 236 1494
Sign up for news of BWM seminars and events
